Top- 3 Ways Tailoring Solution Software Transforms the Retail Industry
The fashion industry is considered to be the world’s biggest industry, generating an estimated $1.5 trillion a year. The sector has been operating on the same age-old model for years and refuses to change its business model. However, the recent developments in technology and the pandemic outbreak compelled fashion brands to comply with the latest retail norms and digitize their entire supply chain. Likewise, the tailored solutions offer relevant customization solutions to brands and allow their buyers to freely design their apparel, including suits, pants, shirts, t-shirts, blazers, and many other products. The tool has built-in digital features that enable your customers to preview the customized product before heading for the payment. The tool helps fashion companies establish transparency with their customers by aiding them in collaborating on various designing processes and understanding their needs and requirements before manufacturing a product.
Tailoring Solution Software Allows Fashion Brands to Redeem the Retail Industry
The increasing concerns about fair wages, pollution, as well as the need to satisfy the hyper-connected consumers of today have given way to new exciting technologies. The “insta-age” of technology, where social media is a defining factor that makes or breaks the brand value you have gathered over a period of time. The new age platform is changing how fashion is consumed and has trained customers to want instant access to the latest trends as soon as they hit the catwalks. Today, the younger generation wants to stand out from the crowd and wants products and services that can be tailored to their needs and preferences. Moreover, mass-made clothing or fast fashion seems to be gradually losing its appeal. And as this trend continues to rise, fewer brands want to manufacture well in advance with an uncertainty of how well it will be sold. Those brands that pick up the pace and become more responsive to market needs will likely win this fast-changing modern environment.
As our lives become increasingly intertwined with the digital world, many brands embrace the latest technology to push the limits of manufacturing, production, marketing, and wearability. With the recent advancements in artificial intelligence to the boom in mobile commerce, many factors have propelled the growth in the fashion industry. Let us explore each of these factors and learn how these can influence upscaling sales.
Here are the factors reshaping the growth in the fashion industry:
1. Advancement in the Artificial Intelligence
Apparel brands have been using artificial intelligence to enhance their customers’ shopping experience, analyze the data, boost sales, forecast trends, and gain inventory-related guidance. Many brick-and-mortar stores use chatbots and touchscreens to provide recommendations to customers based on their past purchases, which improves their experiences. The technology behind AI includes algorithms that track customers journeys to match them with the right products. These customer service technology tools offer a promising future to brands as they can help forecast trends and manage supply chains. For instance, real-time inventory tracking has become key for brands as they save time and make for efficient warehouse management and operations.
Moreover, suppose AI’s powerful data prediction technique is applied to anticipate future trends and help brands gain a competitive advantage. In that case, these modern-day solution enables brands to instantly access the data that help them to plan well in advance about the right style and quantities. They don’t have to rely solely on the conventional ways of collecting the data from fashion designers, influencers, and trend spotters. Consider the case of FINERY; the British fashion label has developed an automated wardrobe planning tool that records its female customers’ purchases and introduces them in a virtual wardrobe. The platform also allows women to create looks from their wardrobe and even choose from over 10,000 shops.
Likewise, the custom tailoring software can be installed on a brand’s website or physical store and allow them to gain perspective on customer’s mindset. Its customization solution enables them to work closely with buyers and understand their behavior. For example, Cocomelody, the US-based ecommerce apparel storefront, implemented our customization tool in its website. With the help of our solution, it became very simple and easy for its buyers to design a complete suite or only Jacket/Pant/Vest of the suit as per their own choice without any hassle. The tool has helped the brand grow its customer base, increase its website traffic, offer more customization options, streamline the order placement, and support many languages, such as French, English, and Arabic.
2. Increment in Mobile Commerce
Mobile is the backbone of our lives, and with each passing day, it is getting more advanced. From Instagram shopping to smart wallets, mobile is emerging as an ultimate tech tool, as it has become one of the fastest-growing sectors in ecommerce. Insider Intelligence forecasts that mobile commerce will reach $284 billion, or 45 per cent of the total U.S. e-commerce market, by 2021. The upsurge in sales can be attributed to the increased used of smartphones for online shopping and easier payment gateways, including Apple and Android Pay. These digital wallets regularly innovate with new technologies, like fingerprints and facial recognition, that compel buyers to shop for all the retail purchases. In fact, according to BigCommerce, two out of three millennials would rather shop online than in-store. As a result, sustainable fashion apps like Vinted and Depop have taken the market by storm, replacing traditional avenues like eBay and Gumtree for selling second-hand fashion. These mobile sales sites have revolutionized the online sales industry, demonstrating how mobile commerce is innovating every aspect of the fashion industry.
3. Growth in Virtual Reality (VR)
Recent developments in the IT sector have enabled brands to get the best of worlds, such as physical stores and ecommerce storefronts. Virtual Reality (VR) is especially a boon for the fashion industry as it enables buyers to try on outfits virtually. All courtesy to customized measurement functionality, it offers brands a greater accuracy and employs augmented reality technology. Also, it helps buyers to be cent per cent sure of what they are buying as they have already tried it and are comfortable with its designs and fitting.
The modern shopping experience enables brands to engage more with their customers for a longer period of time, as they love seeing the product on themselves before buying. This, combined with the social media share factor, makes it even more appealing to customers. Therefore, brands such as Louis Vuitton and Ralph Lauren invest in new-age technology to entice their consumers.
In a nutshell, it is scrupulous to say that the fashion industry is in the midst of transformation. If brands wish to capitalize on the recent developments in the sector. In that case, they should offer a perfect mix of social media, ecommerce, and other digital platforms to their buyers that only eases and enhances their shopping experience. These digital platforms have over-powered the creation of apparel and expedited the emergence of the latest trends. The tailored solutions by iDesigniBuy offer novel and robust business solutions to apparel brands and enable them to comply with the industry changes seamlessly.